Policy Mobilities in Federal Systems - The Case of Proyectá tu Futuro - A Social Impact Bond for Education and Employment in the City of Buenos Aires

Oct 15, 2026

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Global policy mobilities are commonly examined at the national level, leaving subnational implications underexplored. This paper analyzes Proyectá tu Futuro, the first social impact bond for education and employability implemented in Buenos Aires, Argentina. Since 2010, social impact bonds have spread rapidly across countries and policy domains. The study examines diffusion, adoption, and translation using policy documents, legal frameworks, and interviews with key actors. Findings highlight “glocal” policy entrepreneurs as central agents advancing their agendas in federal education systems.

LanguageEnglish

CategoryResearch & Report

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Pages27

Reading Time1 h 8 min

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Policy Mobilities in Federal Systems

Proyectá tu Futuro: Social Impact Bond in Buenos Aires

SPECIAL ISSUE Global Policy Mobilities in Federal Education Systems education policy analysis archives A peer-reviewed, independent, open access, multilingual journal Arizona State University | Volume 31 Number 72 | June 13 , 2023 | ISSN 1068-2341 | | --- | --- | --- | Policy Mobilities in Federal Systems: The Case of Proyectá tu Futuro, a Social Impact Bond for Education and Employment in the City of Buenos Aires1 Tomás Esper Teachers College, Columbia University United States & Felicitas Acosta Universidad Nacional de General Sarmiento Argentina Citation: Esper, T., & Acosta, F. (2023). Policy mobilities in federal systems: The case of Proyectá tu Futuro, a social impact bond for education and employment in the city of Buenos Aires. Education Policy Analysis Archives, 31(72). [https://doi.org/10.14507/epaa.31.6762](https://doi.org/10.14507/epaa.31.6762) This article is part of the special issue, Global Policy Mobilities in Federal Education Systems, guest edited by Jason Beech, Laura Engel, Glenn C. Savage, and Bob Lingard. Abstract: Global policy mobilities have been studied predominantly at the national level of education, but their implications and effects at the subnational level have been disregarded. This paper analyzes Proyectá tu Futuro, the first social impact bond (SIB) for education and 1 This project is part of the COFER Innovative Financing in Education and Development: Case Studies and Multi-Media Material for E-Learning led by NORRAG and was funded by the Swiss Universities Development and Cooperation Network (SUDAC) under the development of Consortia for Education and Research (COFER). Additional funding and resources were provided by the Open Society Foundation (OSF) and the Swiss Agency for Development and Cooperation (SDC) . employability implemented in Buenos Aires, Argentina. Since 2010, SIBs have become a booming type of policy, rapidly traveling and being adopted across countries and policy spheres. SIBs aim to align the incentives of the private sector—the third sector—and the public sector to obtain results while improving public-policy efficiency. However, often it is policy entrepreneurs’ agendas and not results or efficiency goals that trigger SIBs ’ adoption. In this study, we analyze the diffusion of SIBs as policy mobilities and the processes of adoption and translation in the context of Buenos Aires. To this end, we draw on an analysis of policy documents, existing legal frameworks, and interviews with key actors. Our findings point to the role of “glocal” policy entrepreneurs as key agents for the adoption and translation of SIBs, as well as their capacity to advance their own agendas in the context of global policy mobilities in federal education systems. Keywords: policy mobilities; policy entrepreneurs; federal systems; social impact bonds; education policy Políticas globales en los sistemas federales: El caso de Proyectá tu Futuro, un bono de impacto social para la educación y el empleo en la ciudad de Buenos Aires Resumen: La adopción de políticas globales en distintos países se han estudiado predominantemente al nivel nacional, pero sus implicancias y efectos a nivel subnacional sueleser ignorado. Este artículo analiza Proyectá tu Futuro, el primer bono de impacto social (SIB) para la educación y la empleabilidad implementado en Buenos Aires, Argentina. Desde 2010, los SIB se han convertido en una política en auge, viajando rápidamente y siendo adoptados endistintos países y ámbitos de políticas públicas. Los SIB tienen como objetivo alinear los incentivos del sector privado—el tercer sector—y el sector público para obtener resultados ymejorar la eficiencia de las políticas públicas. Sin embargo, a menudo son las agendas de losemprendedores de políticas y no los resultados o las metas de eficiencia las que desencadenan laadopción de los SIB. En este estudio analizamos la difusión de los SIB como un instrumento global y los procesos de adopción y a

FAQs

What is Proyectá tu Futuro in Buenos Aires?

Proyectá tu Futuro is presented as the first social impact bond (SIB) for education and employability implemented in the city of Buenos Aires, Argentina.

Why do social impact bonds spread across countries and policy spheres?

The paper explains that SIB adoption often follows the agendas of policy entrepreneurs rather than results or efficiency goals.

How does the study analyze diffusion, adoption, and translation?

It uses qualitative methods based on policy documents, existing legal frameworks, and interviews with key actors.

Oct 15, 2026

Uploaded by acoobca